A competitor of mine recently wrote an excellent article on looking for the bottom instead of focusing access to cheap money. This is where people get confused. It's cheap money that drives real estate booms and expensive money that will bust it. The point is very easily made by the fact the a 10% decrease in a homes value is wiped out by a 1/2 % increase in interest. Loan programs today try and eliminate the speculator but do reward the home buyer with amazing rates and programs. Rates will not get that much better because they can't do to inflation. This is a perfect time for home buyers to look for great values. M.P.S. Here is a link to the article: http://weknowurban.com/blog/market-update/can-you-see-the-bottom/ 03/25/2008

I shared some of the photos and history of our day trip to the Lost Dutchman State Park yesterday, so I put together some more photos and dialogue on our continued trip on Highway 88 north and east. Almost immediately after we exited the Lost Dutchman State Park heading north, I noted a sign indicating that we were eight miles from Canyon Lake. Meanwhile, the desert was in bloom. Alongside the road, on the hillsides, there were flowers. The desert and cacti looked alive, and it was green everywhere. Blankets of beautiful yellow, purple, orange, white wildflowers, yellow/green moss on the rocks. We so enjoyed seeing the desert so "alive." Everything was so lush and it was clear and slightly breezy in the high 70's. As we rounded a corner, we came upon Canyon Lake shown below.  I've share... 03/15/2008

Many investors that have purchased or want to purchase condos in downtown Phoenix want to know demand for rental properties in the core. While I don't currently handle rental property, I can easily see where the demand is going to come from by just driving around and looking at all the development. You see commercial, industrial, educational, services, etc.. sprouting up all over like weeds. The amount of people combined with some highly skilled and well paid positions is going to create a strong demand for good housing in downtown Phoenix. We just don't have enough land to support all of these people who will be making downtown Phoenix their work and hopefully their home. With fuel becoming such a cost of everyone's monthly expense, it's only a matter of time that the economics let alo... 03/13/2008

Most people who are looking at urban real estate in Phoenix are familiar with Artisan Homes. Artisan was the first urban developer in early 2000 to address the unique needs of people who didn't want to live in the suburbs. Projects such as Artisan Lofts on Osborn, Artisan Parkview, Artisan Lofts on Central, Artisan Commons and now Artisan Village. Perfectly located in the Roosevelt Arts District, moderately priced, adequately designed and finished. Artisan Village is one of the better thought out projects with retail, green belt park, dog walk, large pool all within steps of the downtown core. Also each home has at-least a 2-car tandem garage. For more info: http://www.phoenixurbanliving.com/128749.html. M. 03/13/2008

Urban life in Tempe has really taken hold these last few years. The city of Tempe has dedicated resources and money to help harness and sculpt the unique qualities of downtown Tempe. Just a few blocks away from Mill Avenue lies Tempe Urban Living. A small modern infill project that utilizes it's location and good design to create one of the better projects in Tempe. From rooftop balconies to expansive space, Tempe Urban Living has created a very unique, small modern project that fits nicely into the neighborhood west of Mill Ave. Lastly, there is incredible value here. Pricing, style and location make this a smart choice. For more info, check out: http://www.phoenixurbanliving.com/128759.html. M. 03/11/2008

The urban buyer just had a major win last week. The cap for FHA loans was raised about a 100K to $364,000.00 which now actually addresses a need and the prices of urban properties. FHA has been somewhat 'out of touch' with appreciating real estate prices in the past seven years and now they did something about it. This benefits existing projects that have at-least 51% owner occupied and the HOA is turned over to the residents. FHA considers this as being 'warrantable'. Now buyers can get the best rates with little money down and assistance from sellers, family or friends. This is GREAT news!!! M. 03/11/2008

I'm getting a few inquiries for distressed or foreclosed lofts in Phoenix. This can be somewhat of an illusion. Foreclosure does not guarantee a 'good deal'. It also leaves the buyer exposed since their are no warranties made and is sold 'as-is'. Also there are allot more requirements of the buyer (see your real estate professional for more details). Lastly, a distressed property in say a high-rise may be a falling knife. There are probably more properties that are distressed in that high-rise which may pull property vales down even further. With that said, if your looking for value in urban and are willing to live at-least five years, the time couldn't be better. M. 03/06/2008

The city of Phoenix is looking to enforce licensing of vendors who sell their 'wares' during the monthly First Fridays event in the Roosevelt Arts District. I think this is an eventuality of such event. As the loft owners and gallery owners try and keep the focus of the event, small entrepreneurs have seen this as an opportunity to get their stuff 'out there'. They have set up shop on every piece of concrete or dirt along Roosevelt. This has grown to a critical mass and I do think it's a good idea for a small fee to be paid to help cover police and sanitation needs that the event creates. Moderation and the fee's and restrictions will be a good thing for all. If the city gets to involved it could greatly restrict the event and cause a successful monthly downtown event to lose it's allur... 03/06/2008

Urban buyers are looking for a sense of 'connection' with their community. They want to feel a part of their city, participate in it's function and care about it's direction. These buyers my choose to live in a historic home, modern infill project or older high-rise. Many buyers are looking into the purchase of an older home, in a historic neighborhood with a location and feel that is urban. Of course, Phoenix has many historic neighborhoods which allow for many choices in size, price and location. This gives the buyer the opportunity to look at and choose what type of home is best suited for them. Historic Phoenix homes are always a great option for the urban buyer. For more info, check http://www.phoenixurbanliving.com/129618.html for historic options in downtown Phoenix. M. 03/05/2008

Current economic conditions have created a more diligent and healthier lending environment which will add stability in the housing market. The days of poor credit, no documentation and zero funds down are gone (and good ridden's). Today buyers need to work with both their real estate professional and their lending professional to make the best and most informed decisions when purchasing real estate. This puts the focus back on the industry professionals and will cause attrition in the real estate and financial industry to the benefit of the buyer. In the long run, it's much better for the health of the economy and for the buyer and sellers. M. 03/05/2008

There is quite a buzz around the term 'green' but yet there really is no common standard (other than LEED) on what defines green. The are quite a few modern developments in Phoenix that highlight green aspects of their project but yet the project isn't really green. Galleries at Turney in the Biltmore area of Phoenix is one such project that earns the right to market itself as green. Until we have a standard for products and services I think people will try and benefit from the term green without doing the work. Be wary of projects that market themselves as green without doing some homework for yourself. Galleries at Turney is a great example of good design, LEED certified elements and smart use of space. Too see more, check out www.phoenixurbanliving.com. M. 02/28/2008

There has been a few articles and rumor chatter lately about a couple of projects that may be on hold, reconfigured or possibly scrapped. I'm somewhat surprised at the reaction of urban developers, builders, land owners, Realtors and the general public as being surprised or overly concerned. The high rise craze in Phoenix, Tempe and Scottsdale was obviously ahead of demand and build-out of infrastructure in certain areas. Phoenix is really the only city to take an overall approach to growth with public and private initiatives working together. Tempe and Scottsdale are adding high density residential without allot of new public initiatives but they were ahead by having cores which to build around. All big cities have projects that don't come to fruition and this is just a natural path to... 02/28/2008

There are so many great eating spots in downtown Phoenix that most people do not know about. This is one of the cool things about Phoenix. You need to search for it's unique style and when you find it (because it's there) you'll love it and be very surprised. Unlike other major cities, Phoenix has not developed districts with their own personal charm in the past. This is changing but it also means once you find your new spot, it will feel like your own little secret. It won't be over run with people trying to be trendy. M. 02/26/2008

Most (not all obviously) loft condos in Phoenix, Tempe and Scottsdale have reduced monthly expenses as compared to single family homes. The insurance, heating and cooling, lack of landscaping, pool, etc... makes for a reduced monthly expenses. Of course some of the luxury properties have high HOA's to address all the amenities but overall loft condos are a great way to keep your monthly expenses in check. 01/29/2008

Most people today throw the term 'loft' around loosely as a marketing term. Most of the lofts in Phoenix, Tempe and Scottsdale or 'soft lofts'. Apartment condos with loft finishes (exposed duct work, concrete floors, etc..). The urban buyer doesn't want the finishes that the suburban buyer wants (travertine and granite everywhere). This makes the urban much more unique and less 'cookie cutter' which helps it retain it's value. Uniqueness is a great way to express your indentity and preserve your investment. 01/29/2008

It is a joy and add's to the fabric of life when you take the time to search out the small retailer, restaurateur, etc.. and contribute to keeping your hard earned money in the community. These local business people need to spend money on product, accountants, food, clothes, etc... This keeps the local life-cycle functioning and helps fill your soul. Of course, we all need a Target run every once in a while but the rest can help promote local business and those people will probably buy the services you sell. It's funny how what comes around, goes around..... M. 01/24/2008

I represent allot of urban buyers (people who want to own a condo in the heart of everything) and these buyers are unique and exciting people who enjoy living life to it's fullest. You can never predict their tastes as they are the most eclectic bunch you'll have the privilege to share a conversation with. With that said, it is quite distinct on how these buyers appreciate modern architecture but don't necessarily want to live in it. I believe this is very specific to the buyers in the Phoenix area. They will gush about the design characteristics of something modern but won't proceed with buying and living in it. They are concerned about closets, storage, etc.. while function of modern design is missed. In a nutshell, modern architecture streamlines life (and it doesn't have to be cold)... 01/24/2008

The main reason I focus on urban residential real estate is because it truly addresses the human impact on our planet. Living in the core minimizes the use of the single occupant vehicle which reduces emissions due to commutes to work and play. Also, urban condos/homes are usually smaller in size which uses less power to heat and cool. You also need less stuff to fill that home which helps decrease the need for all those products that impact our planet. It also fills the soul since you'll feel more attached to your community, you'll visit small independently owned stores which help keep your money in the local economy. You also help curb sprawl which one of the most destructive aspects to the environment today. I could rant on and on but in a nutshell, start living again with life at yo... 01/22/2008

With the Fed finally taking a more proactive stance on our sluggish economy combined with high inventories of homes and condos creating a 'perfect storm' for buyers. This is an unprecedented opportunity for smart buyers to make smart purchases. While the hot real estate market truly benefited the seller, the current market benefits the buyer on the purchase AND eventual sale. Mark my words, more money will be made due to this downturn than was ever made in the run up. Check out www.phoenixurbanliving.com for all available property. M. 01/22/2008

I've been blessed and one of the lucky ones who purchased a true residential retail unit (I differentiate since really any home is live/work...residential/retail is zoned where you can have a 'store' with walk in business). I get asked all the time whether there are more of these types of units available in the future. First, the city doesn't like the density of these projects (too low for the amount of land--except in small infill projects). Secondly, the price of land, materials and labor have created prices that exceed the typical buyer of this type of product (most interested buyers are small business owners that do not have allot of cash on hand for start-up costs). However, there is a way around this. City of Phoenix Planning and Zoning is considering an 'overlay' to a certain par... 01/17/2008